Raise the retirement age to 75, starting tomorrow

This takes us to a critical point which, though inarguably true, may be difficult for some to handle.

Each year, as long as legislated or contractual retirement ages remain fixed while life expectancies quietly grow through improvements in safety, medicine, and manual labor-sparing technologies, the population as whole picks up a couple of tenths of a year of extended lifespan — and, as long as the laws or contracts don’t change, extended retirement.

This represents a very real annual “handout.” It certainly isn’t earned; the only thing you have to do to pick up each year’s additional gift is to remain here on planet earth.

One could argue about intent — was it sloth and inertia, or did the politicians realize that they would be creating an ever-growing number of beneficiaries? — but no one can dispute the accuracy of my characterization. (…)

The dangerous retirement entitlement mentality which is more prevalent than you might think must go. The mindset runs as follows: “I should be able to retire at 62 or a bit later (or for many in the public sector, a bit to somewhat earlier), stop working entirely, and be able to maintain my lifestyle, regardless of whether or not I planned for retirement, and regardless of whether I’m capable of working. And if I can’t, it’s the politicians’ fault.” This is completely unacceptable, especially in the serious economic circumstances we face in the coming decade.